Matthew David Feierstein, President of EverCommerce Inc. (NASDAQ:EVCM), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On January 2, 2025, Feierstein sold 20,401 shares of common stock at a weighted average price within the range of $10.70 to $11.03, totaling approximately $220,660. The following day, he sold an additional 4,599 shares at a weighted average price between $10.76 and $10.97, amounting to roughly $49,970. The transactions occurred as the stock trades near $11, with a market capitalization of $2 billion. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics.
Additionally, on January 1, 2025, Feierstein disposed of 1,474 shares to cover tax obligations related to the vesting of Restricted Stock Units, valued at $10.75 per share, totaling $15,845. Following these transactions, Feierstein holds 2,212,695 shares directly, with an additional 150,000 shares held indirectly by a family trust. While the company isn’t currently profitable, InvestingPro data indicates analysts expect profitability this year. Subscribers can access detailed financial health metrics and 8 additional ProTips about EVCM’s performance and outlook in the comprehensive Pro Research Report.
In other recent news, EverCommerce Inc., a software services provider, has successfully renegotiated its existing debt, refinancing their $533.5 million term loan facility. This strategic move aimed to reduce the applicable margin by 50 basis points across all term loans, simplifying the borrowing costs associated with these loans. This financial restructuring, facilitated by the Royal Bank of Canada, is expected to provide EverCommerce with a more favorable interest rate environment for its debt obligations.
EverCommerce has also reported a slight increase in its Q3 2024 earnings, with total revenue reaching $176.3 million, a 0.9% increase year-over-year. The company’s adjusted EBITDA rose to $44.5 million, indicating a margin of 25.3%. Looking forward, EverCommerce anticipates Q4 2024 revenue to be between $168 million and $172 million, with an adjusted EBITDA of $43 million to $46 million.
In addition to its financial performance, EverCommerce continues to explore merger and acquisition opportunities while aiming for a reacceleration in organic growth in 2025 and beyond. These recent developments highlight EverCommerce’s efforts to maintain financial health and pursue strategic growth.
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